Billionaire investor Tim Draper predicted Bitcoin’s (CRYPTO: BTC) complete dominance over the dollar within the next five years on Wednesday, driven by what he sees as unprecedented innovation on the network.
What Happened: In an X post, Draper, a renowned venture capitalist and long-time Bitcoin advocate, highlighted the asset’s increasing market share and how innovations from other platforms have gradually migrated to Bitcoin.
“There is a gravitational pull toward Bitcoin,” he said. “All the innovation that started in altcoins (smart contracts, blockchain applications, ordinals) is moving to Bitcoin.”
He likened this phenomenon to Microsoft Corp. NASDAQ: MSFT) dominance in the operating system era, where applications like Excel and Word became standard with the tech giant, although the idea emanated from early startups.